Blackstone Hires Senior Advisor.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Blackstone Group Blackstone Group L.P. (NYSE: BX) is a prominent private equity and investment management firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. The company is based in New York City, in River House on Park Avenue at Fifty-first Street, with offices in Atlanta, today announced that John Cavoores has joined the firm's private equity group as a Senior Advisor. Mr. Cavoores has over 27 years of experience in the insurance industry. His knowledge of managing and growing successful insurance companies will be extremely beneficial to the firm's private equity team and an important addition to Blackstone. Most recently Mr. Cavoores was the Chief Executive Officer of OneBeacon Insurance Group OneBeacon Insurance Group offers a range of specialty and segmented commercial and personal insurance products sold primarily through select independent agents. As one of the oldest property and casualty insurers in the United States, OneBeacon traces its roots to 1831 and , a subsidiary of White Mountains where he led a very successful turnaround providing extensive shareholder appreciation. Prior to that Mr. Cavoores was President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of National Union Insurance Company, a highly successful specialty company within AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group . Mr. Cavoores started his career at Chubb where he rose to Managing Director in charge of all Chubb's operations outside the US and Chairman of Chubb Insurance Company of Europe. Prior to that, he was CO-Chief Underwriting Officer in charge of Chubb's worldwide specialty underwriting. Prakash Melwani, Senior Managing Director, commented, "We are excited to welcome John to the Blackstone team. His extensive background in insurance both in the United States and abroad will be an invaluable asset to our private equity team." About the Blackstone Group The Blackstone Group, a global private investment and advisory firm, was founded in 1985. The firm has raised a total of more then $63 billion for alternative asset investing since its formation of which approximately $30 billion has been for private equity investing. The Private Equity Group is currently investing its fifth general private equity fund with commitments of $15.6 billion, and has over 60 experienced professionals with broad sector expertise. Blackstone's other core businesses include Private Real Estate Investing Real estate investing involves the purchase of real estate for profit. Profits are accumulated slowly by renting out properties in a cashflow method, or are generally improved and resold for a capital gain. , Corporate Debt Investing, Hedge Funds, Mutual Fund Management, Private Placement, Marketable Alternative Asset Management, and Investment Banking Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Further information is available at http://www.blackstone.com. |
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